31stJanuary 2024, New Delhi: Internshala, the career-tech platform, has rolled out a the annual report on internship and fresher job hiring in India, offering key insights into the dynamic landscape of internship and fresher job recruitment in India for the year 2023. The report, rich in data-driven analysis, highlights a notable surge in hiring, with 4.3 lac+ students securing internships and fresher jobs which is a substantial 16.4% increase from the previous year's 3.7 lac+ hires in 2022. The findings indicate a robust and evolving job market, shaped by seasonal patterns, industry preferences, geographical distribution, and diverse educational backgrounds.
One of the report's standout learnings is the seasonal hiring pattern, with the summer months from March to July emerging as the peak period for recruitment, witnessing over 40k hires each month with March at 44k+ hirings and July at 45k+ hirings. This trend suggests that organisations are strategically aligning their hiring practices with the academic calendar, potentially to tap into a fresh pool of talent entering the workforce.
In terms of industry preferences, the report categorises the top fields in which students were hired, with management leading at 66%, followed by media at 21%, engineering at 10%, and design at 1%. This breakdown offers valuable insights into the sectors actively engaging with young talent, providing a roadmap for students and educational institutions to understand and adapt to industry demands. The dominance of management roles in the hiring landscape implies a continued emphasis on leadership and business acumen in the professional world.
The financial aspects of internship and fresher job opportunities are brought to the forefront in the report, with the highest stipend for an intern reaching an impressive 60,000 rupees per month. The average stipend, however, stood at 4,000 rupees per month. For fresher job hires, the average annual salary was 4.42 lacs, with the highest annual salary reaching an outstanding 55 lacs. These figures shed light on the competitive nature of internship compensation and highlight the potential financial rewards awaiting young professionals entering the job market.
Educational backgrounds play a crucial role in shaping the hiring scenario, and the report provides a detailed breakdown of degrees pursued by hired candidates. The spectrum includes B.Tech at 26% hired students, B.B.A. at 9%, MBA at 8%, B.Com at 8%, B.Sc at 5%, B.A. at 4%, BCA at 3%, B.Com (Hons.) at 3%, B.A. (Hons.) at 2%, M.A. at 2%, and the rest of the 100+ degrees at 32%. This information serves as a compass for educational institutions to align their curricula with industry demands and guides students in making informed choices about their academic pursuits, ensuring they are well-equipped for the professional journey ahead.
Moreover, the report delves into the experiential aspect of hiring, revealing that 37% of hired students had at least one previous internship experience. This underscores the growing significance of hands-on experience in the competitive job market and indicates that employers increasingly value candidates with a proven track record of practical skills. On the flip side, 60% of the hires secured their first internship, suggesting a continuous influx of fresh talent into the professional world, with organisations actively providing opportunities for those looking to validate their skills and get hands-on learning experience during their college years.
Geographical distribution also emerges as a critical factor in the hiring scenario of India, with tier-1 cities dominating the recruitment scene. Delhi-NCR leads at 26%, followed by Mumbai at 12%, Bangalore and Pune at 8% each, Hyderabad at 5%, Chennai at 4%, and Kolkata at 4%. This breakdown provides valuable insights for both employers seeking diverse talent pools and job seekers seeking internship and fresher jobs opportunities. It reflects the concentration of opportunities in metropolitan areas and offers a strategic guide for professionals looking to align their career goals with geographical preferences.
Commenting on the internship and fresher jobs hiring trends in 2023, Sarvesh Agrawal, the founder and CEO of Internshala said, “Over the past decade, internships have been well recognised by students, educational institutions, professional world, government, and parents as a key aspect in a student’s professional journey. The culture of internships has been normalised owing to the fact that internships offer the much necessary skill polishing, skill building, and practical based learning to the aspiring students. Internshala’s annual hiring report highlights the increased awareness and thus increased competition among the students to grab the best of internship opportunities. The report is also highly optimistic reflecting that the number of students being hired is only going to increase in the upcoming years.”
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